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Trade-Exchange Rates

  • It’s the Derivatives, Stupid! Why Fannie, Freddie, AIG had to be Bailed Out
    20 September 2008 par (Open-Publishing)

    It’s the Derivatives, Stupid! Why Fannie, Freddie, AIG had to be Bailed Out
    By Ellen Brown
    Global Research, September 18, 2008
    www.webofdebt.com/articles
    "I can calculate the movement of the stars, but not the madness of men." – Sir Isaac Newton, after losing a fortune in the South Sea bubble
    Something extraordinary is going on with these government bailouts. In March 2008, the Federal Reserve extended a $55 billion loan to JPMorgan to "rescue" investment bank Bear Stearns from (…)

  • Dodd: US financial system near meltdown
    20 September 2008 par (Open-Publishing)
    1 comment

    Dodd: US financial system near meltdown
    Sat, 20 Sep 2008 09:24:42 GMT
    Christopher Dodd, Chairman of the US Banking Committee The US may be days away from a complete catastrophic meltdown of its financial system, says Senate Banking Committee chairman Chris Dodd.
    "I’ve been here 28 years. To listen to the language of last evening, we maybe days away from a complete meltdown of our financial system," AFP quoted Dodd as saying while referring to the late Thursday meeting of the US (…)

  • Joseph E. Stiglitz: How to prevent the next Wall Street crisis
    20 September 2008 par (Open-Publishing)

    Joseph E. Stiglitz: How to prevent the next Wall Street crisis
    STORY HIGHLIGHTS Joseph Stiglitz: Fed pumped too much money, aiding housing bubble New-fangled instruments hid overuse of borrowing, Stiglitz says Executives followed short-term interests and magnified risks, he says Stiglitz: Widespread changes needed to prevent future crises
    By Joseph Stiglitz Special to CNN Editor’s note: Joseph E. Stiglitz, professor at Columbia University, was awarded the Nobel Prize in Economics in (…)

  • Say Good Bye to Free Market Economics
    19 September 2008 par (Open-Publishing)

    Government Taking Extreme Measures to Rescue Corporate America Simulataneously published at Money Daily.
    Unbelievable.
    The measures being undertaken by various branches of the government, including the congress, the SEC and Treasury in concert with the Federal Reserve are the most extraordinary that I have ever seen.
    The US Treasury is opening a function that will guarantee money market funds. Treasury also recently announced plans to sell bonds to fund the Federal Reserve. The Fed and (…)

  • GEAB N°27: Why LEAP/E2020 maintain their anticipation of a 1.75 EURUSD exchange rate at the end of 2008
    18 September 2008 par (Open-Publishing)

    GEAB N°27: Why LEAP/E2020 maintain their anticipation of a 1.75 EURUSD exchange rate at the end of 2008
    Public announcement GEAB N°27 (September 16, 2008) -
    Contrary to what the dollar’s staggering upturn against nearly all currencies since the beginning of July 2008 suggests, LEAP/E2020 sees no reason to modify its anticipation about the EURUSD exchange rate at the end of this year. On the contrary, the specific nature and conditions – as they are described in this 27th issue of the (…)

  • Global Financial Carnage
    17 September 2008 par (Open-Publishing)

    When US stock markets opened on Wednesday, with fresh news that insurer AIG would receive an $85 billion loan from the Federal Reserve in exchange for an 80% equity stake in the company, there was hope that Wall Street could manage to display at least a modicum of confidence that a major economic calamity had been avoided.
    What occurred was exactly the opposite.
    Fear that more highly-leveraged companies would soon fall victim to the worsening global recession spread through the trading (…)

  • Shades of 1929: the global implications of the US banking collapse
    16 September 2008 par (Open-Publishing)

    Shades of 1929: the global implications of the US banking collapse
    Part 1
    By Nick Beams 16 April 2008 http://www.wsws.org/articles/2008/apr2008/nbe1-a16.shtml
    The following is the first part of a report delivered by Nick Beams, national secretary of the Socialist Equality Party (SEP) in Australia and a member of the World Socialist Web Site international editorial board, to public meetings in Sydney and Melbourne on April 9 and 15. Part 2 and Part 3 of the report will be published on (…)

  • Japan criticizes US crisis management
    16 September 2008 par (Open-Publishing)

    Japan criticizes US crisis management
    Tue, 16 Sep 2008 10:18:37 GMT
    Japan’s premiership hopeful, Taro Aso, has criticized Washington’s failure to prevent the collapse of American financial institutions.
    “There are doubts as to whether taking no action and leaving the matter unattended is the right approach," said Aso, quoted by Japan’s Jiji Press news agency.
    Minister for Economic and Fiscal Policy Kaoru Yosano, who is also running for the premiership, said the crisis will strike (…)

  • The Federal Reserve’s War Against the Human Race
    12 September 2008 par (Open-Publishing)
    1 comment

    The Federal Reserve’s War Against the Human Race
    September 9, 2008
    by Joe Schembrie
    American foreign policy is corrupted by a powerful influence so arrogantly reckless it endangers the human race. This influence isn’t Big Oil or Zionism, which are merely tools of the real power. The real power that controls US foreign policy is Big Money – the central banking institution known as the Federal Reserve System.
    The ultimate in corporate welfare, the Fed is a government-supported banking (…)

  • A Pig By Any Other Name
    12 September 2008 par (Open-Publishing)

    By David Glenn Cox
    With pseudo-intellectual, sycophantic stealthiness, steeled stiletto daggers of subterfuged surrogates stand stunned, shocked and savaged by serrated subliminal wounds inflicted by non-existent weapons of their own invention. Ask me not what he said for I know what they were thinking!
    Meanwhile, back at the pig ranch, another American brokerage house is on the deathwatch. Lehman Brothers is dying and the death rattle has set in. It is now only a question of time before (…)